The rice market witnessed a steady trend, with the prices of aromatic and non-basmati rice ruling firm at previous levels on Friday.
Tara Chand Sharma, proprietor of Tara Chand and Sons, told Business Line that domestic demand and trade inquires are keeping rice prices firm. Despite some correction earlier this week, aromatic rice prices are still ruling on the higher side. Trade experts expect that market may witness some alteration in the coming days because rice millers and exporters are expected to sign some new contracts in the coming weeks, he added.
In the physical market, after witnessing a fall earlier on Monday, aromatic rice varieties managed to maintain their previous quoted levels. Pusa-1121 (steam) sold at Rs 6,000-6,100 a quintal while Pusa-1121 (sela) sold at Rs 5,150-5,325.
Pure basmati (raw) quoted at Rs 7,000 while pure basmati (sela) sold at Rs 6,500. Duplicate basmati (steam) traded at Rs 5,000-5,125.
Similarly, non-basmati varieties ruled unchanged on steady buying. PR-11 (sela) sold at Rs 2,550-2,650 while PR-11 (Raw) quoted at Rs 2,600 . Permal (raw) sold at Rs 2,100-2,250 while Permal (sela) went for Rs 2,200-2,300.
Sharbati (steam) quoted at Rs 3,800 while Sharbati (sela) was at Rs 3,500.
Paddy arrivals have been low this week but traders expect that arrivals may increase by the next week. About 20,000 bags of PR variety arrived and went for Rs 1,170-1,210 , Sharbati arrived with a stock of around 5,500 bags and quoted at Rs 1,750-1,820, around 5,000 bags of DB variety arrived and sold at Rs 2,550-2,600.
About 12,000 bags of Pusa-1121 arrived and quoted at Rs 2,750-2,950, pure basmati paddy stocks of around 5,000 bags were sold at Rs 3,200-3,400.